Matrix Cleaning Systems Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05307124 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st March 2018

for

Matrix Cleaning Systems Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R C Pownall

Mrs N Anyon

SECRETARY:

Mrs N Anyon

REGISTERED OFFICE:

Unit H, Leyland Business Park

Centurion Way

Farrington

Leyland

Lancashire

PR25 3GR

REGISTERED NUMBER:

05307124 (England and Wales)

ACCOUNTANTS:

Robin Oatridge & Co Limited

Chartered Certified Accountants

Black Bull House

353-355 Station Road

Bamber Bridge

Preston

Lancashire

PR5 6EE

FIXED ASSETS

Intangible assets

4

21,282

26,375

Tangible assets

5

78,330

101,357

Investments

6

2

2

99,614

127,734

CURRENT ASSETS

Stocks

209,806

218,806

Debtors

7

253,459

218,620

Cash at bank and in hand

1,150

22,454

464,415

459,880

CREDITORS

Amounts falling due within one year

8

347,144

370,937

NET CURRENT ASSETS

117,271

88,943

TOTAL ASSETS LESS CURRENT LIABILITIES

216,885

216,677

CREDITORS

Amounts falling due after more than one year

9

(132,762

)

(138,968

)

PROVISIONS FOR LIABILITIES

(4,303

)

(1,736

)

NET ASSETS

79,820

75,973

CAPITAL AND RESERVES

Called up share capital

19,599

19,599

Retained earnings

60,221

56,374

SHAREHOLDERS' FUNDS

79,820

75,973

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 24th September 2018 and were signed on its behalf by:

Mrs N Anyon - Director

1.	STATUTORY INFORMATION

Matrix Cleaning Systems Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

10% on cost

Plant and machinery etc

-

25% on reducing balance

Stocks

Stock is valued on an average cost basis.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development

Expenditure on research and development is written off over five years from the year it was incurred.

Foreign currency translation

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2017 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1st April 2017

55,000

32,969

87,969

Additions

-

1,875

1,875

At 31st March 2018

55,000

34,844

89,844

AMORTISATION

At 1st April 2017

55,000

6,594

61,594

Charge for year

-

6,968

6,968

At 31st March 2018

55,000

13,562

68,562

NET BOOK VALUE

At 31st March 2018

-

21,282

21,282

At 31st March 2017

-

26,375

26,375

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1st April 2017

23,629

316,766

340,395

Additions

-

2,522

2,522

At 31st March 2018

23,629

319,288

342,917

DEPRECIATION

At 1st April 2017

19,560

219,478

239,038

Charge for year

587

24,962

25,549

At 31st March 2018

20,147

244,440

264,587

NET BOOK VALUE

At 31st March 2018

3,482

74,848

78,330

At 31st March 2017

4,069

97,288

101,357

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1st April 2017

101,687

Transfer to ownership

(35,382

)

At 31st March 2018

66,305

DEPRECIATION

At 1st April 2017

27,911

Charge for year

18,444

Transfer to ownership

(15,479

)

At 31st March 2018

30,876

NET BOOK VALUE

At 31st March 2018

35,429

At 31st March 2017

73,776

6.	FIXED ASSET INVESTMENTS

Interest

in other

participating

interests

£

COST

At 1st April 2017

and 31st March 2018

2

NET BOOK VALUE

At 31st March 2018

2

At 31st March 2017

2

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

247,841

205,623

Other debtors

5,618

12,997

253,459

218,620

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

236,278

254,225

Hire purchase contracts (see note 10)

22,131

34,015

Trade creditors

59,666

59,338

Taxation and social security

24,007

19,359

Other creditors

5,062

4,000

347,144

370,937

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

26,250

61,250

Hire purchase contracts (see note 10)

6,768

27,675

Other creditors

99,744

50,043

132,762

138,968

10.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

Hire purchase contracts

2018

2017

£

£

Net obligations repayable:

Within one year

22,131

34,015

Between one and five years

6,768

27,675

28,899

61,690

The company has annual leasing commitments that expire within five years of £30,337 (2017 - £31,165).

11.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank overdrafts

201,278

219,225

Bank loans

61,250

96,250

Hire purchase contracts

28,899

61,690

291,427

377,165

The bank overdrafts and loans are secured by fixed and floating charges over the company's assets, and a fixed

charge on purchased debts.

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party of the company is the Pownall family.